INSURANCE NERD DAY

INSURANCE NERD DAY- JULY 18, 2023

An insurance nerd is a person who loves working for insurance companies and whose hobbies may include talking about insurance in their free time, convincing others the insurance products, reading publications on insurance, and posting about insurance on their social media. Those are insurance nerds, and July 18 is their day.

HISTORY OF INSURANCE NERD DAY

It is said that there is a talent gap in the insurance industry; therefore, Pioneer State Mutual Insurance Company, on July 18th, 2016, declared the day Insurance Nerd Day to celebrate their employees and encourage other insurance professionals to participate in breaking the stereotype that the industry is boring. Further, this day is an opportunity and a means to attract young talent into the industry.

Due to their enthusiasm for working in the industry, insurance nerds play a significant role in people’s lives as they easily convince people to pay for insurance.  Insurance does not necessarily reduce the risks of unexpected events but can help reduce the financial losses caused by those occurrences. It is a form of risk management and doesn’t mean people will always expect the worst to happen.

There are various types of insurance, such as health insurance, home insurance, and vehicle insurance. Health insurance covers the cost of medical treatments, and in most countries, it is embedded in employee benefits. On the other hand, home insurance covers private residences combining various personal protections such as loss of personal property of the homeowner and liability insurance for personal accidents at home. Finally, vehicle insurance covers damage to the car, legal responsibility to others for bodily injury and property damage, and the cost of treating injuries, rehabilitation, and funeral expenses in case of death.

FIVE FACTS YOU’LL FIND INTERESTING ABOUT INSURANCE

  1. Engagement For Marriage

Derived from the French word ‘ensurer,’ insurance initially meant “engagement to marry.”

  1. Alien Abduction Insurance

Alien abduction insurance has existed since 1987 in the U.S. and has over 7,000 policyholders.

  1. Body Parts Insurance

Ben Turpin, a silent movie star with crossed eyes in 1920, bought a $25,000 insurance policy through Lloyd’s of London in case his eyes ever crossed.

  1. Tongue Insured

The bass player for the rock band KISS, Gene Simmons, once insured his tongue for one million dollars

  1. First Insurance Contract

The first insurance contract was signed in Genoa, Italy, in 1347.

IMPORTANCE OF THE  INSURANCE NERD DAY 

Appreciation

Insurance Nerd Day helps to appreciate nerds for the risky work of being rejected. They still bring us insurance information that we may find useful.

Memory

This day helps us remember to check our current insurance status and know if we may need another insurance plan.

Opportunity to Learn

This day presents an opportunity for those who aspire to be an insurance nerd to start learning about insurance.

STATISTICS ABOUT THE INSURANCE INDUSTRY

There are 410,176 insurance companies across the United States, employing 2.86 million employees and netting premiums totaling $1.4 trillion. The insurance industry contributes to 3.1% of the U.S. total GDP.

Are you a small business operating in the Insurance Industry? 

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